Mediolanum International Funds Ltd Purchases 6,574 Shares of Danaher Corporation (NYSE:DHR)

Key Points

• Mediolanum International Funds Ltd increased its stake in Danaher Corporation by 41.4%, owning 22,459 shares valued at approximately $4.62 million as of the end of the last quarter.
• Danaher reported $5.94 billion in revenue for the last quarter, exceeding analyst estimates, and posted an earnings per share (EPS) of $1.80, beating expectations by $0.16.
• The company also recently declared a quarterly dividend of $0.32 per share, reflecting an annualized dividend yield of 0.62%.

Mediolanum International Funds Ltd grew its position in Danaher Corporation (NYSE:DHR - Free Report) by 41.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,459 shares of the conglomerate's stock after buying an additional 6,574 shares during the quarter. Mediolanum International Funds Ltd's holdings in Danaher were worth $4,623,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DHR. Bank Pictet & Cie Europe AG lifted its position in shares of Danaher by 22.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,731 shares of the conglomerate's stock worth $44,241,000 after purchasing an additional 35,730 shares in the last quarter. Level Four Advisory Services LLC lifted its position in shares of Danaher by 3.6% in the fourth quarter. Level Four Advisory Services LLC now owns 1,683 shares of the conglomerate's stock worth $386,000 after purchasing an additional 58 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Danaher by 4.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 15,694 shares of the conglomerate's stock worth $3,603,000 after purchasing an additional 694 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Danaher by 140.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 803,749 shares of the conglomerate's stock worth $184,501,000 after purchasing an additional 469,685 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Danaher by 10.7% in the fourth quarter. Schroder Investment Management Group now owns 756,699 shares of the conglomerate's stock worth $173,776,000 after purchasing an additional 73,045 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Guggenheim reissued a "buy" rating and issued a $250.00 price target on shares of Danaher in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. reduced their price target on shares of Danaher from $280.00 to $260.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. UBS Group reduced their price target on shares of Danaher from $240.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Danaher from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Finally, Jefferies Financial Group cut their price objective on shares of Danaher from $260.00 to $230.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $247.61.

Insider Buying and Selling

In related news, Chairman Steven M. Rales sold 1,250,000 shares of Danaher stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $196.74, for a total value of $245,925,000.00. Following the transaction, the chairman directly owned 3,105,808 shares of the company's stock, valued at $611,036,665.92. The trade was a 28.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher Paul Riley sold 15,805 shares of Danaher stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $198.00, for a total value of $3,129,390.00. Following the completion of the sale, the executive vice president owned 15,179 shares of the company's stock, valued at approximately $3,005,442. The trade was a 51.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.20% of the stock is owned by insiders.

Danaher Price Performance

NYSE:DHR traded down $2.57 during trading hours on Monday, hitting $202.91. The company's stock had a trading volume of 5,160,180 shares, compared to its average volume of 3,951,987. The stock has a fifty day simple moving average of $196.51 and a 200-day simple moving average of $203.22. The company has a market capitalization of $145.29 billion, a P/E ratio of 43.17, a PEG ratio of 2.86 and a beta of 0.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.62 and a quick ratio of 1.22. Danaher Corporation has a twelve month low of $171.00 and a twelve month high of $281.70.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.16. Danaher had a return on equity of 10.70% and a net margin of 14.21%. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same period last year, the firm posted $1.72 earnings per share. Danaher's revenue was up 3.4% compared to the same quarter last year. On average, analysts anticipate that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, June 27th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.63%. Danaher's dividend payout ratio is currently 27.23%.

Danaher Company Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.